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The technological advancements in payment systems have made contactless payment easy and convenient. The COVID-19 pandemic’s social distancing norms have compelled businesses across the world to accept cashless and contactless payments.
The users have also found comfort in contactless payments and are opting to pay through different methods of cashless payment such as credit card, QR code, and UPI. The process is simple, businesses such as retail stores can accept payments by waving or tapping customers’ credit cards at a PoS terminal machine.
The contactless payment system is based on Near Field Communication (NFC) technology that allows a contactless card to communicate with a PoS terminal machine. It provides accurate payments within a short period, within seconds. It is estimated that more than 50% of the global transactions at PoS terminal machines will be contactless.
Here are some of the payments of contactless payment for your business
1. Safe and secure transactions
The contactless payments performed at PoS card terminals are the most secure mode of payments due to a high technology chip embedded in them, making all contactless payments safer than most other forms of payments. Moreover, the card never leaves the customer’s hand, so there is no chance of loss or misplacement.
Contactless devices come with multiple layers of security to protect against fraud. You will need to enter a PIN to complete your transaction, and it can also be done on your smartphone. Another benefit of contactless payments is the absence of unfortunate events like counterfeit and pilferage.
2. Increased productivity and efficiency in operations
Installing a PoS card terminal is often considered costly by some businesses, but we must understand that it reduces operations costs and increases productivity by a significant margin. Customers do not like to stand in long queues, and the best part about a contact payment is that you can serve customers quickly and efficiently. Also, some merchant services providers offer 24/7 customer support.
With the availability of contactless PoS terminal machines, customers tend to spend more time in stores, buying their favorite products and services. It is an effective way to increase sales and earn more revenue.
They are a faster mode of payment than cash or card transactions. The time spent by customers to find their credit cards in their wallets, or while counting cash at the counter has significantly lessened. Contactless payments are a quick and efficient way to accept payments.
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3. Improved customer satisfaction
The transactions through contactless payment systems such as android PoS machines are fast, secure, and the most effortless due to which businesses experience tremendous increases in average transaction value. The customers are not constrained to shop due to a shortage of cash. They can also pay with QR code.
Also, there is no need to print receipts as proof of transaction. Customers receive an electronic purchase receipt on their mobile number. However, upon the request of customers, receipts can be provided manually as well. Contactless payments reduce the time spent at the counter and offer great satisfaction to customers.
4. Minimum physical interaction and zero spread of bacteria
The COVID-19 pandemic has brought with it social distancing norms that businesses have to adapt to avoid further spread of the virus. Physical distance and protection of the lives of vulnerable people around you have now become a moral duty.
By having a contactless android PoS terminal machine, there is no need to touch the customers’ cards or accept cash from them. Customers can also pay with QR code and reduce the chances of spreading the coronavirus or other germs during purchase transactions.
5. Streamlined payment process
The time spent by customers to dig through their wallets to find cash or their cards is substantially reduced, if not eliminated. With an android PoS terminal, the payment system and process are streamlined. As a business, you can offer to send the receipts via email so that you could operate more efficiently and focus on other aspects of your business.
Contactless payments offer faster transaction times and provide customers improved services, which, in turn, build further satisfaction and even attract new customers.
In brief
There are several benefits of having contactless payment systems for your business. The contactless PoS terminals offer a magnitude of opportunities for your business like increased sales and revenue and improved customer satisfaction.
